Regulatory Alerts2016-01-12
Added · Updated
Explanatory Note on the Regulation Regarding the Procedure for Lending to Small Business Entities in National Currency
The Central Bank of Uzbekistan replaced the previous lending procedure with a new Regulation (approved by Decision No. 22/9 on November 23, 2013) that liberalizes credit terms for small business entities. Key changes include extending working capital loans to up to 18 months, removing the five-year cap on investment project loans in favor of bank-determined terms, allowing borrowers to repay loans early with interest calculated only on the actual usage period, and eliminating geographic restrictions on lending. The Regulation also mandates the acceptance of loan applications via electronic systems, requires banks to issue registered application receipts and reference documents to prevent bureaucratic delays, and exempts newly established entities from submitting additional financial reports during the credit issuance process.